A slide in imports signals China’s economic weakness
Reuters :
China’s exports picked up in the first two months of 2015, propelled by February’s exceptionally strong performance that was inflated by the timing of Lunar New Year, while a slide in imports pointed to persistent weakness in the economy.
Data released by the General Administration of Customs on Sunday showed that China posted a record trade surplus of $60.6 billion last month.
Exports rose 15 percent during the January-February period from a year earlier, quickening from a 6.1 percent annual rise in the whole of 2014 as demand from major markets improved.
February exports jumped 48.3 percent from a year earlier, the strongest rise since May 2010 and comfortably beat market expectations of 14.2 percent, but customs office cautioned about reading too much into the figure given seasonal distortions.
It said local exporters usually make concentrated shipments ahead of the long Lunar New Year holiday. The new year fell on Feb 19 this year, whereas in 2014 it occurred on Jan 31.
January exports fell 3.3 percent from a year earlier.
Analysts tend to look at the combined trade data for the two months to help smooth out distortions caused by the holiday.
China’s exports picked up in the first two months of 2015, propelled by February’s exceptionally strong performance that was inflated by the timing of Lunar New Year, while a slide in imports pointed to persistent weakness in the economy.
Data released by the General Administration of Customs on Sunday showed that China posted a record trade surplus of $60.6 billion last month.
Exports rose 15 percent during the January-February period from a year earlier, quickening from a 6.1 percent annual rise in the whole of 2014 as demand from major markets improved.
February exports jumped 48.3 percent from a year earlier, the strongest rise since May 2010 and comfortably beat market expectations of 14.2 percent, but customs office cautioned about reading too much into the figure given seasonal distortions.
It said local exporters usually make concentrated shipments ahead of the long Lunar New Year holiday. The new year fell on Feb 19 this year, whereas in 2014 it occurred on Jan 31.
January exports fell 3.3 percent from a year earlier.
Analysts tend to look at the combined trade data for the two months to help smooth out distortions caused by the holiday.
